Retail Merger Sparks CVM Probe

Retail Merger Sparks CVM Probe


A deal announced last week to merge the operations of Casas Bahia, a Brazilian retailer, into a CBD’s Globex, has raised red flags at the CVM, which appears to be preparing to conduct an insider trading investigation. CVM’s president Maria Helena Santana claims that trading in Globex, which is typically a low volume stock, was unusually high just ahead of the merger announcement, according O Globo. Between November 23 and December 2, the day before a deal was announced, Globex shares r

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